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Chase Ink Business Preferred℠ Credit Card: Is It The Best Business Credit Card?

Opinions, analyses, reviews, or recommendations expressed here are the author’s alone, and have not been reviewed or endorsed by the issuer. We may be compensated through the issuer’s Affiliate Program. For a full list of our advertisers, including American Express, see our disclosure page.

95
"An excellent business credit card, with one of the best sign-up bonuses around."

Contents

The Ink Business Preferred℠ Credit Card is a fantastic new business credit card, especially useful for business with a lot of travel, advertising, and shipping expenses. It comes with a $95 annual fee, so take some time to decide whether you can get enough out of it to cover that charge. However, given the extremely lucrative sign-up bonus (worth roughly $1,000), that should be easy enough to achieve.

This card is good for...

  • Businesses with a lot of travel, shipping and advertising expenses
  • Business owners looking for a card with a high sign-up bonus

This card is bad for...

  • Companies with low annual expenses

Review: Our Thoughts On the Ink Business Preferred℠ Credit Card

The newly released Ink Business Preferred℠ Credit Card is one of the best business credit cards, thanks to a fantastic sign-up bonus and solid rewards on travel, shipping, internet, and advertising purchases made with social media sites and search engines. The card comes with a 3.75% rewards rate in these categories, on the first $150,000 spent in combined purchases each account anniversary year. This is significantly higher than what you can currently get with some other small business credit cards, like the Capital One® Spark® Cash Select for Business. All other purchases result in an unlimited 1.25% rewards rate.

The estimate above is based on the average small business expenditures data from Shoeboxed.com

The Ink Business Preferred℠ Credit Card comes with one of the highest bonuses of any business credit card. Users earn 80,000 bonus points after spending $5,000 on purchases in the first 3 months after account opening. That is worth approximately $1,000 toward travel rewards when redeemed through the Chase Ultimate Rewards portal.

Note that there is a $95 annual fee on the Ink Business Preferred℠ Credit Card. That means you must make sure you can get enough out of the card to cover that expense. If you qualify for the welcome bonus, it’s enough to cover your annual fee for well over 10 years. However, you should always weigh the opportunity cost of your card choice. You could always apply for a business credit card with no annual fee and a moderate sign-up bonus, like the SimplyCash® Plus Business Credit Card from American Express. Depending on how your company’s expenses and financials work, the no fee option may be significantly better or worse. You can use our business card comparison tool to figure out which would be better for your company, based on its expenditures.

Bottom Line: The Ink Business Preferred℠ Credit Card is a fantastic business credit card, with one of the best early spend bonuses available. Companies spend a lot on travel, shipping, internet, cable, and phone services and social media/search engine advertising should definitely consider applying. If you prefer getting a card with no annual fee, there are other options to consider.

Ink Business Preferred℠ Credit Card Benefits & Features

The Ink Business Preferred℠ Credit Card gives cardholders 3x points on the first $150,000 combined spending on travel, shipping, advertising through search engines and social media sites, and internet/cable/phone services. All purchases that fall outside of this range will earn consumers just 1 point per dollar spent. We value a single Ultimate Rewards (UR) point at roughly $0.0125. Therefore, our estimated return for this card is between 3.75% and 1.25%. The points have the potential to be even more valuable, if you transfer them over to one of the UR transfer patterns. Currently that list includes: British Airways Executive Club, Korean Air SKYPASS, Singapore Airlines KrisFlyer, Southwest Airlines Rapid Rewards®, United MileagePlus®, Virgin Atlantic Flying Club, Hyatt Gold Passport®, Marriott Rewards®, IHG® Rewards Club, and Ritz Carlton Rewards®.

Annual Fee $95
Purchase APR 16.99% - 21.99% Variable
Card Details
  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent in select categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee

The card also awards 80,000 bonus points to any business that manages to spend at least $5,000 from account opening. This is worth roughly $1,000, as long as you redeem your points as travel through the Ultimate Rewards portal. Note that only purchases will be counted towards this bonus. Things like cash advances and balance transfers will not help you meet the $5,000 requirement.

How Does the Ink Business Preferred℠ Credit Card Compare to Other Business Credit Cards?

The best way to get an idea of Ink Business Preferred℠ Credit Card’s value is to compare it against other available options. We took a look at the leading business credit cards and contrasted them with the Ink Business Preferred℠ Credit Card.

Ink Business Preferred℠ Credit Card vs Ink Plus® Business Credit Card

The Ink Business Preferred℠ Credit Card replaced the Ink Plus® Business Credit Card, and it was mostly an improvement over the old offer. Business with more traditional expenses, like office supply purchases at shops like Office Depot, got more out of the Ink Plus® Business Credit Card’s rewards structure. This card offered 5x points per $1 on the first $50,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year. Beyond that, you also got 2x points per $1 on the first $50,000 spent in combined purchases at gas stations and hotel accommodations when purchased directly with the hotel – also capped each year. The only Chase business card that most closely resembled that offer is the Ink Business Cash℠ Credit Card, which we go over below. It is currently not clear whether current Ink Plus® Business Credit Card will have their cards changed to the Ink Business Preferred℠ Credit Card. Both cards have an ongoing annual fee of $95.

Ink Business Preferred℠ Credit Card vs Ink Business Cash℠ Credit Card

The Ink Business Cash℠ Credit Card gives users 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year. Additionally, it also awards 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each year. While these limits are significantly lower than what we see on the Ink Business Preferred℠ Credit Card, you need to consider where your business spends the most money. If you end up buying a ton of stationary products from stores like Office Depot, this card will be significantly better than the Ink Business Preferred℠ Credit Card.

The Ink Business Cash℠ Credit Card doesn’t charge any annual fee, which can be good or bad, depending on what you need. Having no annual fee means you never have to worry about this card being a net loss in terms of rewards. Any year you don’t earn at least $95 in rewards using the Ink Business Preferred℠ Credit Card, the card is actually financially detrimental to your business. However, at the same time, the points you earn with the Ink Business Cash℠ Credit Card cannot be transferred to travel partners. Therefore, you may not get as much utility out of them, as you would with the Ink Business Preferred℠ Credit Card. Having an annual fee also gives you the opportunity to earn a better bonus. The Ink Business Cash℠ Credit Card $300 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening. That is $700 lower than what you can get out of the Ink Business Preferred℠ Credit Card.

If you find aspects of each of these cards appealing, considering applying for both. Since the Ink Business Cash℠ Credit Card has no annual fee, it won’t burn a hole in your wallet. Furthermore, you can combine the reward points from both cards, since they both earn Ultimate Rewards. This card combo is actually high recommended, as it allows you to optimize your rewards. Use the Ink Business Cash℠ Credit Card at office supply stores, gas stations, and restaurants and the Ink Business Preferred℠ Credit Card on everything else.

Ink Business Preferred℠ Credit Card vs SimplyCash® Plus Business Credit Card from American Express

The SimplyCash® Plus Business Credit Card from American Express is like a hybrid between the Ink Business Preferred℠ Credit Card and the Ink Business Cash℠ Credit Card. The SimplyCash® Plus Business Credit Card from American Express gives 5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers. Additionally, it also 3%cash back on the category of your choice from a list of eight:

  • U.S. gas stations
  • U.S. restaurants
  • U.S. purchases for advertising in select media
  • U.S. purchases for shipping
  • Airfare purchased directly from airlines
  • Hotel rooms purchased directly from hotels
  • Car rentals purchased from select car rental companies
  • U.S. computer hardware, software, and cloud computing purchases made directly from select providers

The 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. If your company's expenses fall below that $50k limit, the SimplyCash® Plus Business Credit Card from American Express will likely be the better of the two options.

One other thing worth noting about this card is that it belongs to the Amex OPEN family of cards, which comes with a suite of products that can be very beneficial to business owners. The most important of these is an additional discount that applies when shopping with certain Amex OPEN partners. For example, FedEx is one of these savings partners, and will provide a 5% discount on every dollar spent up to $20,000 per year. If you select “shipping” as your 3% cash back category, and then pay for an eligible service through FedEx, you will get both the 5% discount and the 3% cash back.

Compare the Ink Business Preferred℠ Credit Card Based On Your Company’s Expenses

You can use the tool below to help estimate the rewards the Ink Business Preferred℠ Credit Card will get your business. At the same time, this will compare your options against some other leading business credit cards. Simply click the gear icon below and enter your company’s estimated monthly expenditures.

Edit Monthly Spend: $1,430
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Card Annual Fee 2-yr Net Rewards Rate

The Net Rewards Rate is equal to the Rewards Value over two years divided by the total spending. The total spending is equal to the values entered into the tool and multiplied by 24 months. See the Rewards Value note to see details on how it is calculated.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Bonus Value

The bonus field shows our estimate for the value of the card’s sign-up bonus. If the bonus is point or mile based, we multiply the total bonus points/miles by our estimate for their value to arrive at a dollar equivalent. We display $0 if there is no bonus or if the user doesn’t qualify for the bonus based on the current spending entered into the tool.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

2-yr Rewards Value

The Rewards Value is calculated by adding together the rewards earned from charging purchases to the card over two years and any sign-up bonuses (if applicable). They are then multiplied by our estimated point/mile value, with any annual fees (if applicable) subtracted. All values are based on our own estimates for the dollar value of any points, miles or bonuses earned using a card.

The estimates here are ValuePenguin's alone. They are not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Starwood Preferred Guest® Business Credit Card from American Express
$0 introductory annual fee for the first year, then $95 2.02%
$0
For the first time, earn 2 free nights at participating SPG(R) Category 1-5 hotels & resorts worldwide after you use your new Card to make $5,000 in purchases within the first 3 months.
$729
Graph Card Read Review More Details

Terms and Limitations Apply

Annual Fee $0 introductory annual fee for the first year, then $95
APR 16.24% - 20.24% Variable
*Rates and Fees

Card Details

  • Earn 25,000 bonus Starpoints® after you use your new Card to make $5,000 in purchases within the first 3 months.
  • Earn 2 Starpoints® for each dollar of eligible purchases at participating SPG® Marriott Rewards® hotels. Earn 1 Starpoint® for all other purchases.
  • Redeem Starpoints® for free nights at over 1,300 hotels & resorts in over 100 countries and for free flights on over 150 airlines with SPG Flights. Some hotels and resorts have mandatory service charges.
  • Free, unlimited Boingo Wi-Fi at more than 1,000,000 Boingo hotspots worldwide. Enrollment required.
  • No Foreign Transaction Fees on international purchases and $0 introductory annual fee for the first year, then $95.
  • Terms Apply
  • See Rates & Fees

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 34,320 x $0.024 = $824
Less Annual Fees -$95
Total Net Estimated Rewards Through 24 Months 729
Capital One® Spark® Cash Select for Business
$0 1.99%
$200
One time bonus of $200 one you spend $3,000 in the first 3 months
$715
Graph Card More Details
Annual Fee $0
APR 13.99% - 21.99% (Variable)

Card Details

  • Earning unlimited 1.5% cash back could mean thousands of dollars each year going back into your business
  • Plus, a one-time $200 cash bonus once you spend $3,000 on purchases within 3 months from account opening
  • Save on interest with 0% intro APR on purchases for 9 months; 13.99%-21.99% variable APR after that
  • No annual fee
  • Use Spark Cash Select across all your business spend, with no categories to limit your purchasing
  • Rewards won't expire for the life of the account, and you can redeem your cash back for any amount
  • Get employee cards at no additional cost, and earn rewards from their business spend

Note: The information in this box was provided by Capital One® and is not part of our independent analysis.

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 515 x $1 = $515
Bonuses
0 x $1 = $200
Total Net Estimated Rewards Through 24 Months 715
Ink Business Cash℠ Credit Card
$0 1.79%
$300
Earn $300 bonus cash back when you spend $3,000 on purchases in the first 3 months from account opening.
$643
Graph Card Read Review More Details
Annual Fee $0
APR 14.24% - 20.24% Variable

Card Details

  • Earn $300 bonus cash back when you spend $3,000 on purchases in the first 3 months from account opening
  • Named "A Great Card for Small Businesses" – Kiplinger's Personal Finance, September 2016
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases and balance transfers
  • Employee cards at no additional cost
  • No Annual Fee

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 343 x $1 = $343
Bonuses
0 x $1 = $300
Total Net Estimated Rewards Through 24 Months 643
SimplyCash® Plus Business Credit Card from American Express
$0 1.51%
$200
Earn a one-time $200 statement credit after you spend $5,000 or more in qualifying purchases on your Card within the first 6 months of Card Membership. Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.
$543
Graph Card Read Review More Details

Terms and Limitations Apply

Annual Fee $0
APR 13.24% - 20.24% Variable
*Rates and Fees

Card Details

  • Special Offer: Earn up to $400 cash back
  • Earn a $200 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership.
  • Plus, earn an additional $200 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.
  • No Annual Fee. Plus, more buying power and more cash back. Get cash back on business purchases, even those above your credit limit.
  • 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • 3% on the category of your choice from a list of eight and 1% cash back on other purchases.
  • 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. Cash back received is automatically credited to your statement.
  • Terms and limitations apply
  • See Rates & Fees

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 343 x $1 = $343
Bonuses
0 x $1 = $200
Total Net Estimated Rewards Through 24 Months 543
Ink Business Preferred℠ Credit Card
$95 0.66%
$0
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening
$239
Graph Card Read Review More Details
Annual Fee $95
APR 16.99% - 21.99% Variable

Card Details

  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent in select categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee

Estimated Rewards Through 24 Months

Card Rewards Estimated Rewards Value Dollars*
Spending Rewards 34,320 x $0.013 = $429
Less Annual Fees -$190
Total Net Estimated Rewards Through 24 Months 239

Comments and Questions

* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the "Apply Now" button, you can review the credit card terms and conditions on the issuer's website.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer Affiliate Program. 

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Advertiser Disclosure: Some of the offers that appear on this website are from companies which ValuePenguin receives compensation. This compensation may impact how and where offers appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products. For more information please see our Advertiser Disclosure.